FV

Returns the future value of an investment based on a number of equal payments, each earning interest at a periodic rate, over a specified term which is the number of periods.

Syntax:

FV( payment:Number, interest:Number, term:Number )

where:

payment is the amount of each individual payment;
interest is the interest rate, expressed as a decimal fraction;
term is the number of periods during which payments will be made.

Formula:

FV = payment × ( (1 + interest)term − 1 )  ∕  interest

Example:

If you deposit £400 into an account each year, earning interest at 5% per annum, what is the value of the account after 25 years?

The formula

FV(400, 0.05, 25)

returns the future value 19,090.84 (pounds).